Sunoco LP (NYSE:SUN) Receives Average Rating of “Buy” from Analysts

Shares of Sunoco LP (NYSE:SUN) have earned a consensus recommendation of “Buy” from the six research firms that are covering the stock, MarketBeat reports. Six equities research analysts have rated the stock with a buy rating. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $63.50.

Several equities research analysts have recently issued reports on SUN shares. Barclays dropped their price objective on shares of Sunoco from $62.00 to $61.00 and set an “overweight” rating for the company in a research report on Friday. Royal Bank of Canada upped their target price on shares of Sunoco from $63.00 to $64.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. Finally, Mizuho increased their target price on shares of Sunoco from $61.00 to $66.00 and gave the stock an “outperform” rating in a report on Monday, February 3rd.

Sunoco Stock Up 0.9 %

SUN opened at $59.14 on Tuesday. Sunoco has a 52 week low of $49.45 and a 52 week high of $60.61. The business’s fifty day simple moving average is $57.42 and its 200 day simple moving average is $54.49. The firm has a market cap of $9.03 billion, a P/E ratio of 8.96 and a beta of 1.35. The company has a quick ratio of 0.66, a current ratio of 1.27 and a debt-to-equity ratio of 1.84.

Sunoco (NYSE:SUN) last released its earnings results on Tuesday, February 11th. The oil and gas company reported $0.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.48 by ($0.73). Sunoco had a net margin of 3.85% and a return on equity of 22.52%. As a group, equities research analysts anticipate that Sunoco will post 10.65 EPS for the current fiscal year.

Sunoco Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 19th. Investors of record on Friday, February 7th were issued a $0.8865 dividend. This represents a $3.55 dividend on an annualized basis and a yield of 6.00%. This is a positive change from Sunoco’s previous quarterly dividend of $0.88. The ex-dividend date was Friday, February 7th. Sunoco’s dividend payout ratio is 53.64%.

Institutional Trading of Sunoco

Several hedge funds have recently added to or reduced their stakes in the business. Invesco Ltd. increased its holdings in shares of Sunoco by 2.3% during the fourth quarter. Invesco Ltd. now owns 8,868,926 shares of the oil and gas company’s stock valued at $456,218,000 after purchasing an additional 198,859 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Sunoco by 5.2% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,608,701 shares of the oil and gas company’s stock valued at $134,192,000 after buying an additional 128,042 shares during the period. JPMorgan Chase & Co. raised its position in shares of Sunoco by 26.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,191,570 shares of the oil and gas company’s stock worth $117,644,000 after buying an additional 455,361 shares in the last quarter. Infrastructure Capital Advisors LLC lifted its stake in shares of Sunoco by 3.1% in the 3rd quarter. Infrastructure Capital Advisors LLC now owns 1,087,407 shares of the oil and gas company’s stock worth $58,372,000 after acquiring an additional 32,239 shares during the period. Finally, Recurrent Investment Advisors LLC boosted its holdings in shares of Sunoco by 2.9% in the fourth quarter. Recurrent Investment Advisors LLC now owns 888,862 shares of the oil and gas company’s stock valued at $45,723,000 after acquiring an additional 24,686 shares in the last quarter. Institutional investors own 24.29% of the company’s stock.

About Sunoco

Sunoco LP, together with its subsidiaries, distributes and retails motor fuels in the United States. It operates through two segments: Fuel Distribution and Marketing, and All Other. The Fuel Distribution and Marketing segment purchases motor fuel, as well as other petroleum products, such as propane and lubricating oil from independent refiners and oil companies and supplies it to company-operated retail stores, independently operated commission agents, and retail stores, as well as other commercial customers, including unbranded retail stores, other fuel distributors, school districts, municipalities, and other industrial customers.